vs
雅保（ALB）与塞拉尼斯（CE）财务数据对比。点击上方公司名可切换其他公司
塞拉尼斯的季度营收约是雅保的1.5倍（$2.2B vs $1.4B）。塞拉尼斯净利率更高（0.6% vs -29.0%，领先29.6%）。雅保同比增速更快（15.9% vs -7.0%）。雅保自由现金流更多（$233.1M vs $168.0M）。过去两年雅保的营收复合增速更高（2.4% vs -8.1%）
雅保是全球知名的特种化学品企业，业务覆盖研发、生产与全球销售，下设锂、溴、催化剂三大板块。锂业务线供应碳酸锂、氢氧化锂、氯化锂等锂化合物及相关试剂，产品广泛应用于消费电子、电动汽车锂电池、高性能润滑脂、热塑性弹性体等领域。
塞拉尼斯是总部位于美国得克萨斯州欧文市的技术及特种材料企业，位列财富500强。公司是全球醋酸行业领军生产商，年产量约195万吨，占全球总产量的20%左右，同时也是全球最大的醋酸乙烯酯单体（VAM）供应商。
ALB vs CE — 直观对比
营收规模更大
CE
是对方的1.5倍
$1.4B
营收增速更快
ALB
高出22.9%
-7.0%
净利率更高
CE
高出29.6%
-29.0%
自由现金流更多
ALB
多$65.1M
$168.0M
两年增速更快
ALB
近两年复合增速
-8.1%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $2.2B |
| 净利润 | $-414.2M | $14.0M |
| 毛利率 | 13.9% | 19.1% |
| 营业利润率 | -15.2% | 4.0% |
| 净利率 | -29.0% | 0.6% |
| 营收同比 | 15.9% | -7.0% |
| 净利润同比 | -650.1% | 100.7% |
| 每股收益（稀释后） | $-3.88 | $0.13 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收ALBCE
| Q4 25 | $1.4B | $2.2B | ||
| Q3 25 | $1.3B | $2.4B | ||
| Q2 25 | $1.3B | $2.5B | ||
| Q1 25 | $1.1B | $2.4B | ||
| Q4 24 | $1.2B | $2.4B | ||
| Q3 24 | $1.4B | $2.6B | ||
| Q2 24 | $1.4B | $2.7B | ||
| Q1 24 | $1.4B | $2.6B |
净利润ALBCE
| Q4 25 | $-414.2M | $14.0M | ||
| Q3 25 | $-160.7M | $-1.4B | ||
| Q2 25 | $22.9M | $199.0M | ||
| Q1 25 | $41.3M | $-21.0M | ||
| Q4 24 | $75.3M | $-1.9B | ||
| Q3 24 | $-1.1B | $116.0M | ||
| Q2 24 | $-188.2M | $155.0M | ||
| Q1 24 | $2.4M | $121.0M |
毛利率ALBCE
| Q4 25 | 13.9% | 19.1% | ||
| Q3 25 | 9.0% | 21.5% | ||
| Q2 25 | 14.8% | 21.1% | ||
| Q1 25 | 14.5% | 19.9% | ||
| Q4 24 | 11.2% | 22.7% | ||
| Q3 24 | -7.7% | 23.5% | ||
| Q2 24 | -0.7% | 24.2% | ||
| Q1 24 | 2.9% | 21.2% |
营业利润率ALBCE
| Q4 25 | -15.2% | 4.0% | ||
| Q3 25 | -16.6% | -52.7% | ||
| Q2 25 | 3.6% | 9.2% | ||
| Q1 25 | 1.8% | 7.0% | ||
| Q4 24 | 0.4% | -59.3% | ||
| Q3 24 | -81.9% | 9.4% | ||
| Q2 24 | -34.4% | 9.4% | ||
| Q1 24 | -13.2% | 8.0% |
净利率ALBCE
| Q4 25 | -29.0% | 0.6% | ||
| Q3 25 | -12.3% | -56.1% | ||
| Q2 25 | 1.7% | 7.9% | ||
| Q1 25 | 3.8% | -0.9% | ||
| Q4 24 | 6.1% | -80.8% | ||
| Q3 24 | -78.9% | 4.4% | ||
| Q2 24 | -13.2% | 5.8% | ||
| Q1 24 | 0.2% | 4.6% |
每股收益（稀释后）ALBCE
| Q4 25 | $-3.88 | $0.13 | ||
| Q3 25 | $-1.72 | $-12.39 | ||
| Q2 25 | $-0.16 | $1.81 | ||
| Q1 25 | $0.00 | $-0.19 | ||
| Q4 24 | $0.29 | $-17.50 | ||
| Q3 24 | $-9.45 | $1.06 | ||
| Q2 24 | $-1.96 | $1.41 | ||
| Q1 24 | $-0.08 | $1.10 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | — | — |
| 总债务越低越好 | $3.2B | $11.4B |
| 股东权益账面价值 | $9.5B | $4.0B |
| 总资产 | $16.4B | $21.7B |
| 负债/权益比越低杠杆越低 | 0.33× | 2.81× |
8季度趋势，按日历期对齐
现金及短期投资ALBCE
| Q4 25 | — | — | ||
| Q3 25 | $1.9B | — | ||
| Q2 25 | $1.8B | — | ||
| Q1 25 | $1.5B | — | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $1.7B | — | ||
| Q2 24 | $1.8B | — | ||
| Q1 24 | $2.1B | — |
总债务ALBCE
| Q4 25 | $3.2B | $11.4B | ||
| Q3 25 | $3.6B | $11.7B | ||
| Q2 25 | $3.6B | $12.7B | ||
| Q1 25 | $3.5B | $12.4B | ||
| Q4 24 | $3.5B | $11.1B | ||
| Q3 24 | $3.6B | $11.3B | ||
| Q2 24 | $3.5B | $11.1B | ||
| Q1 24 | $3.5B | $11.0B |
股东权益ALBCE
| Q4 25 | $9.5B | $4.0B | ||
| Q3 25 | $10.0B | $4.0B | ||
| Q2 25 | $10.2B | $5.3B | ||
| Q1 25 | $10.0B | $5.2B | ||
| Q4 24 | $10.0B | $5.2B | ||
| Q3 24 | $10.2B | $7.3B | ||
| Q2 24 | $11.2B | $7.2B | ||
| Q1 24 | $11.5B | $7.1B |
总资产ALBCE
| Q4 25 | $16.4B | $21.7B | ||
| Q3 25 | $17.1B | $22.2B | ||
| Q2 25 | $17.3B | $23.7B | ||
| Q1 25 | $17.0B | $23.2B | ||
| Q4 24 | $16.6B | $22.9B | ||
| Q3 24 | $17.5B | $25.9B | ||
| Q2 24 | $18.4B | $25.8B | ||
| Q1 24 | $19.0B | $26.0B |
负债/权益比ALBCE
| Q4 25 | 0.33× | 2.81× | ||
| Q3 25 | 0.36× | 2.95× | ||
| Q2 25 | 0.35× | 2.41× | ||
| Q1 25 | 0.35× | 2.39× | ||
| Q4 24 | 0.35× | 2.14× | ||
| Q3 24 | 0.35× | 1.56× | ||
| Q2 24 | 0.31× | 1.54× | ||
| Q1 24 | 0.31× | 1.56× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $388.5M | $252.0M |
| 自由现金流经营现金流 - 资本支出 | $233.1M | $168.0M |
| 自由现金流率自由现金流/营收 | 16.3% | 7.6% |
| 资本支出强度资本支出/营收 | 10.9% | 3.8% |
| 现金转化率经营现金流/净利润 | — | 18.00× |
| 过去12个月自由现金流最近4个季度 | $692.5M | $803.0M |
8季度趋势，按日历期对齐
经营现金流ALBCE
| Q4 25 | $388.5M | $252.0M | ||
| Q3 25 | $355.6M | $447.0M | ||
| Q2 25 | $-7.2M | $410.0M | ||
| Q1 25 | $545.4M | $37.0M | ||
| Q4 24 | $674.0K | $494.0M | ||
| Q3 24 | $240.5M | $79.0M | ||
| Q2 24 | $362.9M | $292.0M | ||
| Q1 24 | $98.0M | $101.0M |
自由现金流ALBCE
| Q4 25 | $233.1M | $168.0M | ||
| Q3 25 | $223.4M | $383.0M | ||
| Q2 25 | $-126.8M | $317.0M | ||
| Q1 25 | $362.8M | $-65.0M | ||
| Q4 24 | $-355.1M | $389.0M | ||
| Q3 24 | $-62.6M | $-9.0M | ||
| Q2 24 | $-84.7M | $187.0M | ||
| Q1 24 | $-481.4M | $-36.0M |
自由现金流率ALBCE
| Q4 25 | 16.3% | 7.6% | ||
| Q3 25 | 17.1% | 15.8% | ||
| Q2 25 | -9.5% | 12.5% | ||
| Q1 25 | 33.7% | -2.7% | ||
| Q4 24 | -28.8% | 16.4% | ||
| Q3 24 | -4.6% | -0.3% | ||
| Q2 24 | -5.9% | 7.1% | ||
| Q1 24 | -35.4% | -1.4% |
资本支出强度ALBCE
| Q4 25 | 10.9% | 3.8% | ||
| Q3 25 | 10.1% | 2.6% | ||
| Q2 25 | 9.0% | 3.7% | ||
| Q1 25 | 17.0% | 4.3% | ||
| Q4 24 | 28.9% | 4.4% | ||
| Q3 24 | 22.4% | 3.3% | ||
| Q2 24 | 31.3% | 4.0% | ||
| Q1 24 | 42.6% | 5.2% |
现金转化率ALBCE
| Q4 25 | — | 18.00× | ||
| Q3 25 | — | — | ||
| Q2 25 | -0.31× | 2.06× | ||
| Q1 25 | 13.19× | — | ||
| Q4 24 | 0.01× | — | ||
| Q3 24 | — | 0.68× | ||
| Q2 24 | — | 1.88× | ||
| Q1 24 | 40.01× | 0.83× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
ALB
| Energy Storage | $759.1M | 53% |
| Specialties | $348.9M | 24% |
| Ketjen | $320.1M | 22% |
CE
| Engineered Materials | $1.3B | 58% |
| Acetyl Chain | $940.0M | 43% |
